Martin Armstrong:James Rickards の「Gold による債務危機解決案」を完全否定

はじめに


・昨日の過去記事、

  James Rickards:アメリカの債務危機は Gold で解決できる (途中:その1) (2017-09-16)

 で James Rickards の提案した「Gold による債務危機解決案」を紹介した。

・これに対して、Martin Armstrong が正気の策ではない…とボロクソに批判しているので紹介する。

引用


・読者からの質問が…

QUESTION #1: Marty,
___ ________ makes the argument that if “the government” raised the price of gold to $5000/oz it would start and inflation that would wipe away the debt.

Don’t they have to ensure convertibility as well? He kind of skips over that. And isn’t that pegging the dollar to gold, and no peg holds? At that price the dollar would become incredibly cheap, and world demand for it would soar to arbitrage trade into goods, I would think.

Anyway, how does his proposal compare to the 1934 and 1971 devaluations.


・Martin Armstrong の返答が…

ANSWER: This proposal is insane and it would not work anyhow. In 1934, it was the link of gold to the dollar that CAUSE deflation. When Roosevelt devalued the dollar, then inflation took place. If you suddenly fixed gold at $5,000, so what? He would be doing the opposite by creating deflation and then the national debt would become payable in gold.

The 1971 closing of the gold window by Nixon cut the link to gold ending Bretton Woods and then inflation unfolded. This is why Europe is in trouble for they keep trying to create a strong Euro which means assets decline and that produces deflation.

I just do not get the reasoning of these people. They clearly have no real world experience. They want to forecast markets without ever leaving their bedroom.



Ref: https://www.armstrongeconomics.com/markets-by-sector/precious-metals/gold/more-strange-gold-reasoning/


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・7:3 で Martin Armstrong の判断の方が正しいように思う。

(2017-09-17)
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